Tag Archives: ship

VAT on Imports from Abroad

The importer of goods or services may well have to pay VAT. HMRC have published a guide on this “VAT: imports, acquisitions and purchases from abroad”, including special rules for VAT due on a boat or ship classed as a … Continue reading

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VAT and Boats – VAT Act 1994

To zero-rate a boat or ship for VAT it has to be over 15 tons and a “qualifying ship” under VAT Act 1994, schedule 8, group 8. Eamon McNicholas Tax Barrister, Accountant http://www.EamonMcNicholas.com

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London Yacht, Jet, and Prestige Car Show in May

The Yacht, Jet and Prestige Car Show will be held in London from 4th May 2016. with the London On-Water Boat Show opening on 7th May. With some boats able to benefit from zero-rating for VAT, normally 20%, tax-planning is … Continue reading

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VAT Zero-rating for Boats

To qualify for VAT zero-rating a boat or ship has to be above 15 tonnes and not designed or adapted for recreation of pleasure. Value Added Tax Act 1994, schedule 8, group 8, item 1 and note A1 refer. Eamon … Continue reading

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